Nowadays, our society faces new profound institutional changes driven by digitalization and the transition from the post-industrial economy to the economy enhanced with artificial intelligence (AI). The economy based on the artificial intelligence will fundamentally change the channels and the control systems of production, services, and transactions. As a result, a more complicated forms of economy will likely to be formed. Market institutions, such as competition, innovation, marketability, will all be tested by the new changes. Revolutionary transformational changes signify a deep institutional shift in the structure of employment and the labour market as the new working class, the precariat, is being forged. Many traditional jobs in the economy will be lost and replaced by the machines. However, the new digital AI-driven economy will also create new jobs, albeit of a different type and nature, and almost surely based on the principles of the “gig economy” and “sharing economy”. Our paper focuses on these troubling institutional economic issues with regard to the digitalization and computerization of business operations in financial institutions such as banks or insurance companies. We discuss the recent trends and developments in digitalization of the financial sector and their impact of clients and other economic agents. Moreover, draw possible risks and implications for the financial institutions. Our results might be interesting and useful for researchers in the field of AI, institutional economists, as well as stakeholders and policy-makers dealing with economics, finance, and labour markets.